SeaCrest Wealth Management LLC Acquires 1,430 Shares of Allegiant Travel (NASDAQ:ALGT)

SeaCrest Wealth Management LLC boosted its holdings in shares of Allegiant Travel (NASDAQ:ALGT) by 39.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,025 shares of the transportation company’s stock after buying an additional 1,430 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Allegiant Travel were worth $378,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALGT. International Assets Investment Management LLC purchased a new position in shares of Allegiant Travel during the 4th quarter worth $141,350,000. Donald Smith & CO. Inc. bought a new stake in Allegiant Travel during the fourth quarter valued at about $12,382,000. U S Global Investors Inc. increased its position in Allegiant Travel by 23.4% in the fourth quarter. U S Global Investors Inc. now owns 647,055 shares of the transportation company’s stock worth $53,453,000 after buying an additional 122,844 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Allegiant Travel by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 798,573 shares of the transportation company’s stock worth $65,972,000 after buying an additional 98,662 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Allegiant Travel in the fourth quarter worth about $7,187,000. 85.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CMO Scott Wayne Deangelo sold 19,687 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.68, for a total value of $1,056,798.16. Following the completion of the transaction, the chief marketing officer now owns 64,812 shares of the company’s stock, valued at approximately $3,479,108.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Allegiant Travel news, EVP Robert Paul Wilson III sold 750 shares of Allegiant Travel stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $53.00, for a total transaction of $39,750.00. Following the completion of the transaction, the executive vice president now directly owns 74,948 shares of the company’s stock, valued at $3,972,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Scott Wayne Deangelo sold 19,687 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.68, for a total transaction of $1,056,798.16. Following the transaction, the chief marketing officer now owns 64,812 shares in the company, valued at approximately $3,479,108.16. The disclosure for this sale can be found here. Insiders sold 26,037 shares of company stock valued at $1,395,948 in the last three months. Corporate insiders own 17.50% of the company’s stock.

Allegiant Travel Trading Down 0.3 %

Shares of Allegiant Travel stock opened at $49.71 on Thursday. Allegiant Travel has a twelve month low of $46.90 and a twelve month high of $130.93. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $52.70 and a 200-day moving average price of $66.80. The firm has a market cap of $906.21 million, a price-to-earnings ratio of 15.73, a PEG ratio of 1.34 and a beta of 1.66.

Allegiant Travel (NASDAQ:ALGT) last released its quarterly earnings results on Tuesday, May 7th. The transportation company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $656.70 million during the quarter, compared to analysts’ expectations of $645.23 million. Allegiant Travel had a return on equity of 0.50% and a net margin of 2.26%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 EPS. Equities research analysts anticipate that Allegiant Travel will post 3.62 EPS for the current fiscal year.

Allegiant Travel Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.40 annualized dividend and a yield of 4.83%. Allegiant Travel’s dividend payout ratio (DPR) is currently 75.95%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. TD Cowen reduced their target price on shares of Allegiant Travel from $65.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Barclays decreased their price objective on shares of Allegiant Travel from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Susquehanna dropped their target price on shares of Allegiant Travel from $76.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, UBS Group began coverage on Allegiant Travel in a report on Wednesday, March 20th. They set a “sell” rating and a $58.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.57.

Allegiant Travel Profile

Allegiant Travel Company, a leisure travel company, provides travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited-frequency, nonstop flights between under-served cities and leisure destinations. As of February 1, 2024, it operated a fleet of 126 Airbus A320 series aircraft.